Year’s results from government: Kyrgyzstan overcomes recession

The Kyrgyz government believes that the main result of 2016 was the overcoming the deep recession of the national economy and the preservation of positive dynamics of economic growth, Minister of Economy of Kyrgyzstan Arzybek Kozhoshev said at today's Cabinet meeting.

According to him, from the beginning of the year, the economy showed a downward trend. The positive trend was observed only in August. However, the situation in the country is still affected by the economic slowdown in Russia and Kazakhstan - a drop by 0.6 percent and growth of just 0.8 percent. It affects the economy of Kyrgyzstan through trade and remittances to the country.

At the end of 2016, the volume of gross domestic product amounted to 458 billion soms and increased by 3.8 percent.

Excluding enterprises developing Kumtor, real GDP growth was 3.7 percent. The highest rates were observed in construction sphere (7.4 percent) and industry (5.2 percent).

At the end of 2016, the share of services in the GDP increased by 0.7 percent - to 49.8 percent. Production of goods amounts to 39.2 percent, as it was in 2015.